MAGIC BREAKOUT PLUS
The MagicBreakout+ Forex trading strategy outlined by Tim Trush and Julie Lavrin emphasizes conservative trading with a focus on identifying trends and filtering bad trades. Here are the summarized buy and sell rules based on the provided text:
Buy Rules:
- Identify the perfect trend: Ensure that the market is trending up. This is determined by various factors, including the price being above the Wave-bottom, above the UpperWave-bottom, and the Wave being above the UpperWave.
- Wait for the right conditions: Price should have been above the Wave for some time and then entered the Wave (crossed the Wave-top downward). The ColorCCI indicator should have been yellow for at least five bars and then changed to green.
- Confirm additional criteria: All candle bodies should be above the UpperWave, and the Wave should be above the UpperWave, especially at the swing-low.
- Execute the trade: Once all conditions are met, buy at the next candle open.
Sell Rules:
- Identify the perfect trend: Ensure that the market is trending down. This is determined by various factors, including the price being below the Wave-top, below the UpperWave-top, and the Wave being below the UpperWave.
- Wait for the right conditions: Price should have been below the Wave for some time and then entered the Wave (crossed the Wave-bottom upward). The ColorCCI indicator should have been yellow for at least five bars and then changed to red.
- Confirm additional criteria: All candle bodies should be below the UpperWave, and the Wave should be below the UpperWave, especially at the swing-high.
- Execute the trade: Once all conditions are met, sell at the next candle open.
These rules are designed to minimize risk while maximizing profit potential by following a disciplined approach to trading and leveraging indicators to identify favorable entry and exit points in the market.